Netflix Expected To Soar On Strong Q3 Earnings Report

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Investors are anticipating another strong week for Netflix as the streaming giant is poised to release its highly anticipated third-quarter earnings report, with expectations of exceeding estimates due to robust consumer demand and an improved fundamental outlook.

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The Los Gatos, California-based Internet television network is scheduled to release its Q3 update after the U.S. market closes on Thursday at 4:00PM ET. A call with co-CEO’s Ted Sarandos and Greg Peters is set for 5:00PM ET. If confirmed, this would represent the highest quarterly sales in Netflix’s 27-year history, driven by strong demand for its lower-cost, ad-supported tier and the company's ongoing crackdown on password sharing, a move that has pushed more users to sign up for their own accounts.

The retail pharmacy giant has been struggling to navigate a challenging macroeconomic environment, and the outlook for the stock remains bleak. Meanwhile, revenue is forecast to inch up 0.4% year-over-year to $35.55 billion, as it deals with low consumer spending due to the challenging retail environment.

 

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